Over the years, players across the mining industry have started witnessing daunting challenges in terms of water scarcity, harsh climates, and rising energy costs which has consequently affected the growth prospects of the mining equipment manufacturers. As a result of these challenges, firms operating in the mining equipment manufacturing space have started advocating the need for robust procurement best practices solutions to gain a comprehensive understanding of their sourcing and procurement activities and increase their overall profitability across office locations.
With years of expertise in providing a wide array of similar solutions, SpendEdge’s procurement best practices experts assists firms operating in the mining equipment manufacturing space to gain a competitive edge over the peers operating in the industry space by implement best-in-class sourcing and procurement strategies.
The Procurement Pain Point and Insights Offered
A renowned mining equipment manufacturing client was facing predicaments in gaining a stronger foothold in the industry space against their peers. As a result, the client wanted to identify the sourcing and procurement best practices adopted by their peers. They also wanted to identify the key suppliers operating in the mining equipment manufacturing space.
To cater to the specific predicaments faced by the mining equipment manufacturing client, the procurement best practices experts at SpendEdge personalized an integrated research methodology, which included primary and secondary research coupled with quantitative and qualitative data collection methodologies.
During the course of the procurement best practices engagement, the mining equipment manufacturing client gained actionable insights into the functional and commercial drivers and decisions that impacted the profitability of the firm. Additionally, the client was able to categorize the peer group companies and key suppliers operating in the industry space. This helped them understand the accordingly implement sourcing and procurement best practices and formulate superior sourcing strategies.
Fundamental questions answered in this procurement best practices study include
The procurement best practices engagement helped the mining equipment manufacturing client instrument best-in-class sourcing and procurement strategies across the supply chain. This helped them identify and cut down the inefficient and unproductive processes and consequently helping them improve profits.